CCP approves bazaar’s 100% stake in Wemsol, strengthening Its position in digital payments
The Competition Commission of Pakistan (CCP) has granted approval to Bazaar Technologies (Private) Limited for the acquisition of a 100% shareholding in Wemsol (Private) Limited. The move marks Bazaar’s strategic expansion into Pakistan’s fintech ecosystem, diversifying its portfolio beyond e-commerce and wholesale distribution.
Bazaar Technologies, founded in 2020 by Hamza Jawaid and Saad Jangda, is one of Pakistan’s fastest-growing startups. It operates as a B2B e-commerce marketplace, enabling small retailers and businesses to procure inventory seamlessly. The company has attracted significant investor interest, securing over $100 million in funding from global and regional investors, including Tiger Global, Dragoneer Investment Group, and Indus Valley Capital. With a presence in dozens of cities across Pakistan, Bazaar has revolutionized procurement and inventory management for thousands of small and medium-sized enterprises (SMEs).
The acquisition will be executed either directly by Bazaar Technologies or through its subsidiary, Beta Holding Private Limited (BHPL). The relevant product market for this transaction includes Electronic Money Institution (EMI) services, Point of Sale (POS) terminals, and related financial services, with Pakistan as the geographic scope.
